WASHINGTON (dpa-AFX) - Following the lackluster performance seen over the two previous sessions, treasuries showed a more notable move to the upside during trading on Monday.
Bond prices advanced early in the session and remained firmly positive throughout the day. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, fell 2.6 basis points to 4.213 percent.
The ten-year yield continued to give back ground after surging to its highest closing level in five months last Tuesday.
The strength among treasuries came as traders looked ahead to the Federal Reserve's monetary policy announcement on Wednesday.
While the Fed is widely expected to leave interest rates unchanged, traders will pay close attention to the accompanying statement for clues about the outlook for rates.
Traders also kept an eye on the latest geopolitical developments, with President Donald Trump threatening to impose a 100 percent tariff on goods from Canada over a potential free trade deal with China.
Canadian Prime Minister Mark Carney responded by saying his country has no intention of pursuing such a deal.
The U.S. government is also facing the possibility of another shutdown, as several Democratic senators have threatened to oppose a spending bill if it includes appropriations for the Department of Homeland Security.
The impasse over DHS funding comes after federal immigration agents shot and killed another U.S. citizen in Minneapolis over the weekend.
In U.S. economic news, a report released by the Commerce Department showed new orders for U.S. manufactured durable goods surged by much more than expected in the month of November.
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